Managing During the COVID-19 Pandemic

These are truly historic and unprecedented times. As this article is being written in early April of 2020, the COVID-19 pandemic is raging throughout the world and the number of cases in the United States is reaching an alarming level. This is despite constant warnings from health officials for us all to take this virus more seriously. There is much uncertainty and even disagreement over what we should and should not be doing in response. Perhaps by the time you are reading this article, we will have learned the truthful answers.

Though we are unclear about the direct effects of the virus, we already know the indirect financial effects are harmful. While money should not be our only or even our primary concern, it is a concern that will eventually need to be addressed. This is not only true for individuals, households, and businesses, but also for churches, ministries, and other non-profits. Considering this, many are asking, “What can we expect, financially?” and, for those who are current or potential endowment providers or other donors to the Foundation, the question might be, “What is the Foundation doing?”

“What can we expect, financially?”
First, let’s address the great unknown, “What can we expect, financially?” The Foundation is a philanthropic organization with a mission of “helping good people do good things.” We are not experts, professionals, nor advisors with respect to finances. But the Foundation is fortunate to have a great working relationship with those who are all these things, our philanthropic asset management firm at First Citizens. They are the experts who watch all our endowment investments closely and keep us informed of the current market forecasts and conditions. The Foundation assets are invested in the same markets as everyone, but our assets are managed by proven professionals who apply our funds in a conservative mix of investments for solid growth over time while minimizing losses as much as possible.

Here is what the experts are saying. All investment scenarios are subject to highs and lows, and we have had our share of both. If you follow the financial markets, you probably know this current low is officially termed a “bear” market. These are regularly occurring events for the financial markets and there have been many of them over the years. We can therefore look to these past bear markets to predict what might come next.

According to Brent Diliano, Chief Investment Officer with First Citizens, there have been 27 bear markets over the last 185 years. From these past events, we have learned there are three different types of bear markets:

Structural Bear Market
These represent 7 of the 27 historic bear markets and they were triggered by excesses, imbalances, and financial bubbles like those during the Great Depression. They average 42 months in length, 57% in losses, and 111 months for a full recovery.

Cyclical Bear Markets
These represent 15 of the 27 historic bear markets and they were typically caused by the normal economic cycles caused by rising interest rates, recession fears, and falls in profitability. They average 27 months in length, 31% in losses, and 50 months for a full recovery.

Event Driven Bear Markets
These represent 5 of the 27 historic bear markets and they were triggered by a single event ‘shock’ that did not lead to a domestic recession (such as war, viral pandemic, etc.). They average 9 months in length, 29% in losses, and 15 months for a full recovery.


Though much about our current situation is unprecedented, it seems we are in an event driven bear market today and if that remains true, the good news is such markets tend to be the shortest, least damaging, and have the fastest time to recovery. Historically, there have been four stages of recovery that we can begin to look for:

Initial Fall
The initial fall is relatively quick and represents 75% to 85% of the total decline

Bounce
The market seems to come back for a short period. Historically this occurred 15% above the bottom of the initial fall.

Re-test
This is a second, less drastic fall, that typically occurs within one to three months after the initial fall.

Recovery
On average, the recovery is fifteen months from the initial fall.

Source: First Citizens Wealth Management publication, Market Commentary,

“Anatomy of a Recovery - The 4 Stages of a Bear Market” by Brent Ciliano.

So far in this current bear market, we’ve seen Stage 1, the Initial Fall, and have begun to see Stage 2, the Bounce. Time will tell how long this current stage lasts, but hopefully not for long.


“What is the Foundation doing?”
The Foundation is doing all that is possible to continue to provide our donors and beneficiaries with the same level of quality, personal, and professional service as always. We are adjusting to observe social distancing recommendations like everyone else and we are closely watching our assets. We are anticipating a full recovery, but we realize it will take time.

For us, distributions from endowments occur in May and are always based on March 31 market values, so the Foundation’s board of directors will look at those values and do all that is possible to keep distributions as high as possible without impeding the rate of recovery for each endowment in the future.

We will get through this together and we remain committed to “helping good people do good things” regardless of the circumstances.

If we can assist you with your charitable giving questions and needs, please contact us at 919-299-4616 or visit our website at www.ncfcm.org.

The Foundation Names a New Board Member

Dianne-Riley Gray Joins the Foundation Board of Directors

Mount Olive, NC - The North Carolina Foundation for Christian Ministries announces the recent addition of Mrs. Dianne B. Riley-Gray to its board of directors. Mrs. Riley-Gray brings a wealth of knowledge, experience, and a valued perspective to the Foundation. 

She is a graduate of Southeastern Baptist Theological Seminary in Wake Forest, NC, where she earned the degree of Master of Religious Education in 1984. She also earned a Bachelor of Science degree from Atlantic Christian College (now Barton College) in 1969, and an Associate of Science degree from Mount Olive College (now the University of Mount Olive) in 1967.

Mrs. Riley-Gray began her career in elementary education before joining the admissions office at Mount Olive College, where she eventually became the Admissions Director. She also served the college as an Assistant Professor of Christian Education and then as the Director of Alumni Relations. Currently, Mrs. Riley-Gray is the Director of Church Ministry at The Free Will Baptist Children’s Home in Middlesex.

Throughout her career, Mrs. Riley-Gray has received many honors and recognitions. She was appointed by Governor James B. Hunt, Jr. to serve on the N.C. Internship Council in 1995 and then reappointed by Governor Michael F. Easley in 2002. At Mount Olive College, she was selected to teach incoming freshmen students as Freshman Faculty and taught the Introduction to Christian Education for the Department of Religion for many years. Beyond her work at Mount Olive College, Mrs. Riley-Gray presented Planning for College workshops in public and private high schools for the Carolinas Association of Collegiate Registrars and Admissions Officers. She also served on the Scheduling Committee for that organization and was selected as one of forty-four Educational Consultants in North and South Carolina.

A very active Original Free Will Baptist, Mrs. Riley-Brown is said to “know everybody” in the denomination, though she would say that is not entirely true. For many years she has played a vital role in the OFWB Woman’s Auxiliary. She was honored by the group as their Woman of the Year with a Life Membership Award during their annual meeting in May 2000. Currently, she serves the as Auxiliary’s Vice President. Beyond her work with the Auxiliary, Mrs. Riley-Brown has served the denomination as the On-site Coordinator for the OFWB Youth Convention at Mount Olive College, a role she performed for over twenty years. She has served on the denomination’s Task Force for Youth Ministries and on the Family and Youth Ministries Council. She has been a frequent speaker at denominational events and her gift of connecting with people has often been called upon to fill pulpits for churches when pastors were away.

When she takes time for herself, Mrs. Riley-Brown enjoys traveling with her husband, Cliff, and spending time with his four children, their spouses, and the nine grandchildren. She enjoys holding her rescue cat, Fred, planning activities and worship services for the Children’s Home, watching UMO and Duke basketball, having lunch with friends, spending time at Lake Gaston, watching HGTV, and binging on Hallmark Channel movies.

The North Carolina Foundation for Christian Ministries is honored to have Mrs. Dianne B. Riley-Gray as its newest board member. She will be a valued asset in helping the Foundation fulfill its mission to serve Christian and educational purposes. For more information, contact the Foundation at P.O. Box 210, Mount Olive, visit their office at 201 West James St., or call 919-299-4616.

Ways of Saying “Thank You”

Creative Ways of Saying “Thank You”

By Ricky Warren, NCFCM

Originally published in the November 2014 issue of the Free Will Baptist magazine.

"And although it be not always so plentiful, as it was at this time with us, yet by the goodness of God, we are so far from want, that we often wish you partakers of our plenty."

--From Edward Winslow of the Plymouth Colony

As a group, modern Free Will Baptists have a lot to be thankful for. Our heritage has been preserved by vigilant ministers, laypeople, and educators. Our homes, churches, and communities have advanced well beyond the poor rural context of their origin. Free Will Baptist ministries are continuing, despite economic adversity, through the generosity of our people. Free Will Baptists have a lot to be thankful for and many are seeking creative ways to express that gratitude. However, like the Pilgrims, many Free Will Baptists today find resources are limited, so a gift from their “abundance” requires some creativity. The North Carolina Foundation for Christian Ministries has assisted many good people in finding creative ways to say thank you from their own unrecognized “abundance.”

Creative Ways of Saying “Thank You”

One resource that is generally in abundance is time. For each person, there are twenty-four hours in a day. If used creatively, time can be used to say thank you in meaningful ways. Benjamin Franklin said, “Remember that time is money . . . waste neither time nor money, but make the best use of both.” The Foundation can provide the method to turn time into monetary resources that can be used to express gratitude through a permanent legacy. Here are a few creative ways the Foundation can assist you in expressing gratitude in a significant and lasting way even if cash resources are limited.

Endowments

Through the Foundation, individuals, organizations, churches, etc. may establish an endowment – a pool of money that is never spent while its earnings are used to permanently support the causes that are important to the donor. With a small initial contribution now along with regular contributions over time, anyone can establish an endowment as a means of saying thank you.

Direct Funding of a Scholarship

Each year the Foundation awards thousands of dollars in the form of scholarships to assist students preparing for service as Free Will Baptist ministers. Cash gifts to scholarship funds of any size are welcomed and give donors the satisfaction expressing gratitude by touch lives for successive lifetimes through the work of effective Free Will Baptist ministers.

Non-Cash Donations

If cash is not available, other types of gifts may be accepted by the Foundation. These may include but are not necessarily limited to automobiles, equipment, real estate, stocks, bonds, life insurance, etc. Within IRS guidelines, such non-cash assets can be considered tax-exempt donations just like cash donations.

Bequests

Another creative way to express gratitude in a significant and lasting way is through bequests – gifts by will or trust. The Foundation can assist a person now with such planned giving for the future so that one can rest assured that even in death their charitable wishes will be carried out.

Charitable Gift Annuities

A charitable gift annuity with the Foundation provides a guaranteed income for the lifetime of one or two people in exchange for an initial cash donation. The initial gift is tax deductible and a portion of the annual distribution payments to the original donor are considered tax-free income. A charitable gift annuity is ideal for someone with cash on hand who needs to protect their assets, secure a guaranteed income, reduce their tax burden, and leave a lasting legacy.

Direct Funding of the Foundation

Supporting the Foundation itself is an ongoing way of saying thank you. Through a one-time direct gift to the Foundation or through an annual pledge, gifts of any amount can be used to ensure that good people are helped to do good things well into the future.

Conclusion

There are many creative ways to express gratitude and doing so in a lasting and significant way through the Foundation need not be out of reach of anyone. The ideas listed here are only examples; there are countless other ways that can be tailored to each person’s wishes and needs. For more information on saying “thank you” in a lasting and significant way, even if cash is limited, please contact the North Carolina Foundation for Christian Ministries, P.O. Box 210, Mount Olive, NC 28365-0210. Because the Foundation is a 501 (c) (3) non-profit Christian charitable organization, all contributions to the Foundation are tax-deductible.

Precious Presence

Precious Presence, by Ricky Warren

Like most people, I just love presence! If ever there were a universal pacifier, for young and old alike, it would be presence.

Most of us have fond memories of gathering with our family around the Christmas tree and gathering with friends to celebrate a birthday. Those times are wonderful because they involve long-anticipated presence.

When I think of presence, I am reminded of a story I once heard, which I like to alter just a bit. In my version of the story, a young boy becomes friends with a wise old man, who observes that the boy is joyfully engaged in life, even finding delight in mundane things like cutting grass.

The wise old man tells the boy about something called the “precious presence.” He says to the boy, “The precious presence will be the most valuable gift ever given.” “It is so wonderful,” the man said, “it will make him happier and more successful than anything else he could ever receive.”

The boy is fascinated with the idea of presence, so he asks how he could get it. The old man tells him he already knows the answer and he points out how happy the boy already was, even just cutting the grass. The boy doesn’t understand, so the old man explains that the presence is a gift we must give to ourselves.

Time passes and the boy grows into his teens. In the back of his mind, he is always wondering about the presence and how and where he can find it. One day, the boy's curiosity became overwhelming, so he visited the old man to learn more. Thinking he might have be on the right track, he asked, "Is it a spaceship, one that I may board and travel anywhere I like?"

"No", the old man again replied, "for when you have presence you will be content to be wherever you are".

The teenaged boy left.

Time passed.

Now a young man, he felt a bit embarrassed going to the old man with his quest for the presence. But again, he did.

"Is it a pirate's treasure chest filled with diamonds, rubies, silver and gold buried on a deserted island?"

"No", the old man quietly replied, the wealth of the presence comes only from the presence itself."

Again, the young man departed, puzzled and frustrated.

Time passes and the young man decides to search for the presence himself. He searched every corner of the earth, climbed every mountain, explored every cave, sailed every ocean and probed the minds of every person he met. He spent many, many years of his life searching to no avail.

As the young man matures into adulthood, he abandons the search for the precious presence. He becomes focused on his work and being successful and it seems to be fruitful, at first. He finds a loving wife, he builds a beautiful home, he begins to rear his children, making sure they have the best money can buy. But then, the normal problems of life start to pile up and he begins running into problems at work and in his personal life. He loses his job and his marriage is on the rocks. He doesn’t understand how life can be so unkind when he has worked so hard. He is bitter and angry, but he uses his fury to drive him on, to work harder, to make it through.

Years later, a tired, weary, and often physically ill man, returned to the wise older man. He told him of his fruitless travels searching for the presence, his life of material success and failure, his fatigue, and his ultimate unhappiness with it all.

Again, the wise man listens and then advises him to spend some time reflecting on the times when he was most happy. So, the tired man goes to a cabin in the mountains for some rest. As he is sitting in front of a fireplace, he notices how well made it is, by a craftsman who must have been as engaged in his work as he was when he was cutting the grass. Suddenly in a rush, it hits him: he realizes we must live in the present, we must be able to truly enjoy what we are doing right now. The presence means focusing on what is happening right now, the present moment. He realized that the precious presence was the present moment—the present! Not the past, not the future, but the present — the precious present!

Instantly, the man was happy! He set out to live life differently. He didn’t get so caught up in being successful. He focused instead on enjoying every moment of life. He spent time with his family, he didn’t let things at work bother him as much, and he made the most of every opportunity to find pleasure in the present, forgetting the past, and not worrying about tomorrow, or the things that didn’t concern him.

He let go of a lot of his unnecessary responsibilities. He got a smaller house, rented a little vacation home for weekend getaways, and just smiled and said “sorry” when someone asked for his help with some need in the church and community. There were fewer accomplishments, but each day spent living in the present had rewards of its own.

Then one day, as he scrolled through his Facebook app, he saw a picture of his friend, the wise old man. He was standing with a group of younger people. They were smiling, and the caption read, “Local Church Establishes Memorial Scholarship Fund.” The man was confused, so he read the attached article. The sad truth become clear, his friend had died some time ago, without him even knowing. An important person from his past had been lost while he was busy enjoying the present.

The man grew sad and he felt alone. He had always enjoyed the old man's company, but now he was gone. The wise old man was always happy, he recalled. It wasn't that he lived a carefree life, for the old man certainly experienced his share of pain, but he recalled the joy and purpose he seemed to have. In reflection, it amazed him that the wise man seemed to enjoy the time he had spent helping him years ago. Though the wise man could have spent his time traveling the world, building his wealth, or just living the carefree life, he really seemed to enjoy being there, he seemed happy in his presence.

And then it happened! He didn't know why it happened or how it happened. It just HAPPENED!  "Why did I not think of this long ago!” he thought. “I have wasted so much of my life searching for something I already had."

For you see, the presence isn’t material wealth, it isn’t extraordinary life experiences, it isn’t passively living in the moment. The precious presence is the most valuable gift ever given. It makes one happier and more successful than anything else we could ever receive. When we have the presence, we are content to be wherever we are. But, the wealth of the presence comes only from the presence itself. The presence is a gift we must give to ourselves because the presence is ourselves. The presence is just that, being present.

These thoughts began with a story I heard years ago. That story was based on a fictional book by Dr. Spencer Johnson. Over the years, I have adapted the story because it became the story of my life as well.

God knows, if ever there were a universal pacifier, for young and old alike, it would be presence. No one was created to be alone and we want to always be present for those our families, our churches, and favorite ministries. But our earthly, human presence here will not last forever.

Like most people, I just love presence. Thank you for your ongoing presence in the lives of so many through the work of the Foundation! To God be the glory!